Geometric Search Leader Physna Raises $56 Million In Funding Amid Rapid Growth
The company also adds Instant AR, native augmented reality capability, to Thangs.com, its free public geometric search engine
COLUMBUS, Ohio, July 1, 2021 /PRNewswire-PRWeb/ -- Physna, the geometric search leader, announced that it raised $56 million in venture capital financing led by Tiger Global with participation from GV and Sequoia Capital. The funding comes just five months after the company raised a $20 million Series B round. The financing will be used to scale and develop Physna's geometric deep-learning platform, as well as its free public geometric search engine, Thangs (thangs.com). With this round, Physna's total financing is more than $86 million.
Physna's growth is driven largely by Thangs, which hosts millions of 3D models and is compatible with the vast majority of formats and file types. Users can search, store, share and collaborate on models, as well as use them cross-discipline, such as viewing 3D printing models or mechanical designs in AR. The site currently has 250,000 registered users and indexes more than 2.5 million 3D models, 1 million of which were added in the last six weeks.
In addition to the funding, Physna announced Instant AR, a major update to Thangs. With Instant AR, Thangs users can instantly convert 3D models on Thangs.com into AR formats, allowing them to "place" any 3D model into a real world environment using a smartphone camera. Instant AR can be used with both Android and iOS native browsers, and does not require special hardware or apps. Instant AR is available to Thangs users today.
"Thangs is an integral piece of Physna's growth and future," said Physna CEO Paul Powers. "As we work toward our mission of indexing the physical world, Thangs will be our connection to the millions of professional and hobbyist 3D engineers and designers who will help grow and develop spatial computing alongside us."
Physna's technology searches, compares, and analyzes 3D models, creating more efficient engineering, industrial design and procurement processes for enterprises. Using Physna's enterprise platform, an engineer can find a model by searching for an object, including components contained in assemblies, alternative components, and alternative uses of those components. For example, a procurement manager can use a picture – or take a scan – of any part a company uses and see where it's being used throughout the organization, in what quantities, and if the company is buying redundant parts. See more about how Physna's technology works here.
"Physna makes it possible for computers to understand physical objects by turning 3D models into digital code," said John Curtius, Partner at Tiger Global. "Its technology will help companies solve incredibly complex, previously unsolvable problems that have massive economic implications. Physna's a pioneer and leader in this space, with a lot of opportunity in front of it."
Physna was founded in 2016 on the principle that computers can be taught to "think" in 3D and accurately describe the physical world around us. Using complex mathematical analyses and advanced geometric deep learning technology, Physna codifies 3D models into detailed data that is understandable by software applications. This ground-breaking approach enables an entirely new era of software.
"As the physical and digital worlds continue to merge and computing interfaces evolve, the ability to standardize data and search across the 3D digital world will become more critical," said Brian Bendett, Partner at GV. "I'm excited to work with the Physna team as they continue building a new standard for 3D search."
About Physna
Physna, Inc., is the industry leader in geometric deep-learning technology. The company's software bridges the gap between the physical world and digital code by codifying the 3D world through a deeper understanding of the physical properties of real-world objects and the relationships between them. Physna is building the 3D future of software and is improving engineering, industrial design and procurement by putting new, powerful search capabilities in the hands of innovators and creators – one 3D model at a time.
Physna is a registered trademark of Physna, Inc. Thangs is a trademark of Physna, Inc. All other trademarks and registered trademarks previously cited are the property of their respective owner(s) and are hereby recognized and acknowledged.
Media Contact
Corey Lewis, Physna, +1 510.717.1736, [email protected]
SOURCE Physna
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